American Airlines Ex-Worker Files Suit Over 401(k) Fees (1)

A former American Airlines Inc. employee filed a proposed class action saying the airline mismanages a 401(k) plan holding more than $14 billion by failing to rein in administrative fee levels.

The lawsuit takes aim at the annual recordkeeping and administrative fees paid by participants in an American 401(k) plan covering about 100,000 people. These fees, which allegedly range between $31 and $34 per person, exceed the amounts charged to participants in other large plans, plaintiff Adam Fischer said in a complaint filed Sept. 19 in the US District Court for the Eastern District of New York.

Fischer says American ...